fxstreet.com 10 Feb, 2021 08:00 am

Bulls looking to seize control, German/US CPI eyed for fresh impetus

Bulls looking to seize control, German/US CPI eyed for fresh impetus
The EUR/USD pair gained strong positive traction on Tuesday and recovered further from two-month lows, around mid-1.1900s touched last week. The momen

Friday's rather unimpressive US jobs report raised doubts about a relatively faster US economic recovery and halted the recent USD bounce from multi-year lows.The global risk sentiment remained well supported by the progress in coronavirus vaccinations, which, along with prospects for a massive US fiscal spending plan, has been fueling hopes for a strong global economic recovery.With the USD selling bias turning out to be an exclusive driver, concerns that the slow rollout of vaccines in the eurozone could hamper the economic recovery did little to hinder the ongoing positive move.2100 mark, to near two-week tops during the Asian session on Wednesday and was exclusively sponsored by the emergence of some heavy selling around the US dollar.

2100 mark, representing the 38.2100 mark now becomes immediate support to defend.

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